ICAP plc (IAP.L), a leading markets operator and provider of post trade risk mitigation and information services, announces today that ICAP Global Broking has launched its first matching session in South African rand (ZAR) local currency government bonds.

Executed via ICAP Global Broking’s e-Commerce portal, ICAP’s voice brokers in London and Johannesburg are running multiple matching sessions per day for ZAR government bonds, with a view to increasing this based on demand.

These matching sessions follow the launch of corporate Eurobonds last month as ICAP Global Broking builds its hybrid capability and expands the number of matching sessions it runs through the e-Commerce portal.

Clive England, Global Head of Matching, ICAP Global Broking, said: “We are encouraged by the success of the first series of ZAR government bonds matching sessions, which have received strong market interest. Having offered screens in this market for 10 years, pooling liquidity and streamlining the trading process through this new product was the next logical step for the business.”

Dean Berry, Global Head of eCommerce, ICAP, said: “Providing enhanced services and functionality through the e-Commerce portal , Global Broking customers can view ZAR government bond-related news feeds, intraday pricing and participate in matching sessions in one consolidated view, benefiting from the expertise, market knowledge and assurance that our voice brokers are behind the trade.”

David Casterton, CEO Global Broking, ICAP, said: “Global Broking’s e-Commerce portal has successfully provided an electronic offering to customers which enables trades to be concluded with the assistance of our voice brokers. As we grow our global footprint in hybrid execution services, we’re pleased to announce the launch of the ZAR government bonds matching session, and look forward to rolling out further matching sessions across all asset classes over the next 12 months.”

To learn more about the ICAP ZAR government bonds product, please contact: emeaecommercesales@icap.com